10:48 | 09/12/2016 Economy
Construction on a 1.44 trillion VND (63.4 million USD) wood processing factory commenced in the central province of Ha Tinh on December 3.
|Deputy PM Vuong Dinh Hue at the groundbreaking ceremony (Source: VCP)|
Invested by the Thanh Thanh Dat Joint Stock Company, the facility will be built on an area of 18 hectares in the Vu Quang industrial cluster in Vu Quang district.
Designed to have the annual capacity of 120,000 cubic metres of medium-density fibreboard (MDF) and 2,400 cubic metres of wood slats, the factory is expected to start operation in the fourth quarter of 2019.
The project aims to fully tap the local forest potential in line with the province’s planning for forest development for wood processing from 2013 to 2020, and a vision through 2030.
Addressing the groundbreaking ceremony, Chairman of the provincial People’s Committee Dang Quoc Khanh urged sectors and the district People’s Committee to work closely with the investor to accelerate land clearance for the project.
The investor was asked to ensure the progress of the project and prioritise recruiting local labourers once it becomes operational.
Set up 14 years ago, Thanh Thanh Dat Company now has 25 factories across the nation, with 2,500 employees. Its revenues reached 2.16 trillion VND (95.04 million USD) in 2015.